Question
Three wells in Western Texas have the following data: Well 1: 24-hr. Test: 55 bbl Days Produced: 30 days Well 2: 24-hr. Test: 50 bbl
Three wells in Western Texas have the following data:
- Well 1:
24-hr. Test: 55 bbl
Days Produced: 30 days - Well 2:
24-hr. Test: 50 bbl
Days Produced: 28 days - Well 3:
24-hr. Test: 40 bbl
Days Produced: 26 days
Total Production Sold: 4,300 barrels—measured at point of delivery (production from 3 wells commingled)
Requirement:
Determine the barrels of production allocated to each well. Round the ratio to three decimal places and round barrels to the nearest whole barrel.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516
